Your understanding is correct. Once support expires, you will not be able to install on previously unregistered machines.
LogViewPlus is licensed per user user which means you are free to install it on as many machines as you need. Unlike some companies, our licenses continue to be valid indefinitely - but only on machines that were identified during the support period.
We also offer a deep discount on support renewals of 70 - 75%.
I hope that makes sense. This is a little different from how other companies license software, so please let me know if you have any further questions.